在线国产一区二区_成人黄色片在线观看_国产成人免费_日韩精品免费在线视频_亚洲精品美女久久_欧美一级免费在线观看

Global EditionASIA 中文雙語Fran?ais
World
Home / World / Americas

US jobs, economy to be hurt by trade war

By CHEN WEIHUA and JING SHUIYU | China Daily | Updated: 2018-07-09 02:44
Share
Share - WeChat

US experts have voiced deep concerns over the administration of US President Donald Trump's trade war against China, a war that they say violates WTO rules and will hurt US jobs and the nation's economy.

Trump fired the first shot on Friday by imposing punitive tariffs on $34 billion in imports from China. China quickly retaliated by levying tariffs on the same amount.

Gary Hufbauer, a nonresident senior fellow at the Peterson Institute for International Economics and deputy assistant secretary for international trade and investment policy at the US Treasury from 1977 to 1979, said "'bully' is the correct description" of what Trump has been doing to China, Canada, Mexico and other US trade partners.

Before levying tariffs on China, the Trump administration had imposed new tariffs on steel and aluminum in the name of national security, triggering retaliation from US trade partners as well as their complaints filed with the World Trade Organization. On Friday, China also lodged a WTO complaint against the latest US tariffs.

"Unfortunately, at the moment there is no effective domestic backlash to the destruction that Trump is wreaking on the international economic order," said Hufbauer, adding that most people in the US and many lawmakers are not familiar with WTO rules.

Trump has repeatedly accused the WTO of treating the US unfairly and has reportedly threatened to withdraw from the international trade body.

Wayne Morrison, a trade and finance specialist at the Congressional Research Service, said there is great concern among US trade experts that Trump's unilateral action will undermine the global trading system that the US helped build.

Henry Levine, a senior adviser at the Albright Stonebridge Group and a former deputy assistant secretary of commerce for Asia in the administration of former US president George W. Bush, said Trump's decision to go forward with tariffs on Chinese goods reflects two of his deeply held beliefs: that trade is a zero-sum game and that other countries have been taking advantage of the US for decades with their trade surplus.

"You can see these two perspectives not only in the tariffs imposed on Chinese goods, but also in tariffs imposed on products from US friends and allies," he said.

Economists and trade experts have disagreed with Trump's interpretation of the cause and benefit of the trade imbalance. They believe that the US trade deficit is caused primarily by its fiscal policy, the low saving rate and the role of the US dollar as a global reserve currency.

"Trump is ignoring the pleas of the business community. He seems to be betting that his get-tough approach against China will make his political base happy, even though these policies will hurt many of them in the long run," Morrison said.

"A trade war would be very costly to both economies and the global economy as a whole," he added.

A study led by Mary Lovely at the Peterson Institute showed Trump's latest tariffs on China will hit non-Chinese supply chains even harder. Many of Chinese exports to the US come from foreign companies operating in China.

Edward Alden, a senior fellow at the Council on Foreign Relations, said the only way for the Trump administration to change course is as a result of domestic political pressure.

"My hope is that then there will be a period of reflection in which all the countries involved will find a way to come back to the negotiating table," he said.

"I still believe there is time to prevent this trade war from further escalation, but we are in a dangerous period," Alden said.

On Friday, the Office of the US Trade Representative announced guidance for companies on how to apply for exclusion from the newly imposed tariffs on products made in China. Companies will have 90 days to file the requests.

"The real intention of the Trump administration is to deter China while minimizing the negative impact on its electorate," said Mei Xinyu, a researcher with the International Trade and Economic Cooperation Institute of the Ministry of Commerce.

"In fact, even if a certain number of US companies obtained exclusions from the additional tariffs, it would not relieve the pressure on its overall economy. High costs imposed on Chinese goods would eventually be passed on to US consumers," said Li Yong, deputy director of China Association of International Trade Expert Committee.

Contact the writers at chenweihua@ chinadaily.com.cn

Most Viewed in 24 Hours
Top
BACK TO THE TOP
English
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
主站蜘蛛池模板: 久久兔费看a级 | 在线日韩欧美 | 中文字幕亚洲一区二区三区 | 久久99精品久久久久久久 | 不卡av电影在线观看 | 日本在线观看 | 国产一区二区电影 | 五月天婷婷激情视频 | 国产精品不卡一区 | 天天操狠狠操 | 天天操天天碰 | 欧美3区 | 欧美日韩一区二区中文字幕 | 精品久久久久久久久久久久久久 | 久久免费视频播放 | 国产成人午夜 | 国产噜噜噜噜噜久久久久久久久 | 亚洲免费观看视频 | 亚洲h网站 | 在线99视频 | 久久久蜜桃 | 亚洲精品美女久久 | 精品免费视频 | 青草草| 成人欧美一区二区三区白人 | 一区毛片 | 精品一区二区三区免费 | 久久久国产精品 | 亚洲精品久久久久久久久久久久久 | 久久久久久久成人 | 懂色一区二区三区免费观看 | 农村少妇一级片 | 精品亚洲永久免费精品 | 欧美精品久久久久久久久久丰满 | 美女视频一区 | 可以免费看黄的网站 | 久久99精品久久久久久按摩秒播 | 九九精品免费 | 国产一级片在线 | 国产精品二区三区 | 娇喘呻吟趴在雪白肉体耸动图 |